T20 WC to generate US$300m for CWI

FE Team | Published: June 03, 2024 00:06:20

Cricket West Indies (CWI) is expecting a significant financial boost with the co-hosting of the ICC Men's T20 World Cup 2024. According to reports, the tournament is expected to generate a revenue of approximately US$300 million for the cricket board, report agencies.
This event marks the return of World Cup cricket to Caribbean shores after a 14-year hiatus.
The tournament, which is kicked off on Sunday saw several Caribbean nations sharing hosting duties with the United States. A total of 20 teams participated in the tournament, including the powerhouses like India, Australia, England and Pakistan.
CWI President, Dr. Kishore Shallow, earlier talked about the economic benefits of hosting the biennial tournament. He projected a direct economic impact exceeding US$300 million for the Caribbean region. This economic boost is crucial for a financially weak Cricket West Indies.
"This tournament is projected to yield over US$300mn in direct economic impact for the Caribbean. Moreover, it is anticipated to captivate more than a billion viewers worldwide through television broadcasts, further elevating the global stature of the Caribbean as a sporting and tourist destination," said Cricket West Indies (CWI) President, Kishore Shallow.
Shallow said, "The ICC Men's T20 World Cup holds immense promise for the Caribbean, not just in terms of cricketing fervour, but also as a catalyst for economic growth and regional development.
"Moreover, it is anticipated to captivate more than a billion viewers worldwide through television broadcasts, further elevating the global stature of the Caribbean as a sporting and tourist destination."
Antigua and Barbuda, Barbados, Guyana, St Lucia, St Vincent and the Grenadines, and Trinidad and Tobago are the six Caribbean countries chosen to host the 55 matches, along with New York City, Dallas, Texas, and Florida in the US.
Dominica had initially been shortlisted to host matches but subsequently pulled out after assessments showed that renovations to the cricket stadium could not be completed in time.
The Kensington Oval in Barbados will host the final on June 29.
"The ICC Men's T20 World Cup 2024 marks an exciting expansion of our sport with more teams than ever before set to compete in this event. It's going to be an incredible spectacle bringing together 20 international teams from Africa, the Americas, Asia, East-Asia Pacific and Europe," said ICC Chief Executive, Geoff Allardice.
A study of the 2007 Cricket World Cup hosted in the Caribbean, reported that attendance for the tournament averaged 11,176 persons per match. In Guyana, attendees typically formed groups of three individuals and stayed for an average of 7.65 nights. Visitors spent an average of US$1,902 on lodging and US$934 on food and beverages, while total daily visitor spending was estimated at US$191.
Regional organisers are hoping that this year's tournament can attract similar levels of visitors and spending to provide Caribbean countries with a needed economic boost as they shake of the lingering effects of the COVID-19 pandemic.